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8/30/2017

Second Mortgage rate increase?Home Equity Lines Of Credit are seeing rates riseand becoming due in full as they age

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Although rates on first trust deeds decreased this past two days, prime seconds will not

If you have a Home Equity Line of
Credit (HELOC) you should be concerned where your rate and monthly payment will
be in the future

$100k line at 5.25% = $522

Take the rate @ 10% = $877

Take the rate @ 18% = $1,507

Most of these lines of credit have a
lifetime cap of 18%.

Prime Rates rise for HELOC

United States Average Monthly Prime
Lending Rate Forecast 2016-2020

Bank Lending
Rate in the United States is expected to be 4.00 percent by the end of this quarter,
according to Trading Economics global macro models and analysts’ expectations.

Looking
forward, we estimate Bank Lending Rate in the United States to stand at 4.25 in
12 months’ time. In the long-term, the United States Average Monthly Prime
Lending Rate is projected to trend around 5.25 percent in 2020, according to
our econometric models.

Given
the forecast, Home Equity Lines of Credit are getting pretty expensive. Get
ahead of the curve and let us help you get into a fix loan.

8/01/2017

California Tax rates by County Assessor
Property taxes in California Counties percentages
Cities can have additional charges such as sewer, water, police,

California Flag

fire department, vector control.
Mellos Roos taxes can also be added when a tract is new.
Mello Roos tax pays for the curbs, gutters, roads, parks etc
built to accommodate new construction areas. This additional
tax can be very expensive. Local taxes are on average around an
additional quarter or .25%

In general property taxes are about 1.2% of current sale price and they
increase over time. Only way to reduce the property taxes is if values fall,
you can temporarily request for a formal review

Property taxes in California are a percentage of the real estate value.